Published Papers
The Role of Taxes in the Rise of ETFs, with Rabih Moussawi and Raisa Velthuis, Forthcoming, Review of Financial Studies
AFA, FMA, SFA, University of Kansas, Syracuse University, Office for Financial Research, UNC Tax Symposium, Chicago Quantitative Alliance Spring Conference, Dayton Summer Finance Workshop, UT Smokey Mountain Finance Conference, Gabelli Funds Conference on Section 852(b)(6)
Lehigh Business Podcast, Lehigh University Business Thought Leadership
'Black Holes for Capital Gains': New Tax Trick Takes Off in ETFs, Bloomberg
How to escape taxes on your stocks, Economist
The Role of Taxes in the Rise of ETFs, Harvard Law School Forum on Corporate Governance
US ETF investors mainly motivated by tax loophole, study shows, Financial Times
Tax Advantages Are Driving Investors from Mutual Funds to ETFs, ETF Trends
Rich Americans Fleeing Tax Hikes May Turbocharge Shift to ETFs, Bloomberg
5 Most Loved Funds of the Booming ETF Industry, Yahoo Finance
US investors have saved $250bn by investing in ETFs, says BofA, Financial Times
The Effect of Bond Ownership Structure on ESG Performance, 2024, with Hye Seung (Grace) Lee, Jesus M. Salas, and Ke Yang, Journal of Corporate Finance 89
FMA, SFA, SUNY Binghamton, China Accounting and Finance Review (CAFR) 2021 Virtual Annual Conference Fourth Conference on CSR, the Economy and Financial Markets; JCF SI Conference 2023
Macroeconomic Uncertainty and Predictability of Real Estate Returns: The Impact of Asset Liquidity, 2024, with Nandu Nayar and S. McKay Price, Journal of Real Estate Research 46:1, 82-113
FSU-UF-UCF Critical Issues in Real Estate Symposium (Cancelled due to COVID), ARES 2022 Annual Meeting Manuscript Prize Winner, European Real Estate Society (ERES) Annual Conference, European Financial Management Association (EFMA) Annual Conference, FMA European Conference
Redemption in Kind and Mutual Fund Liquidity Management, 2023, with Vikas Agarwal, Honglin Ren, and Haibei Zhao, Review of Financial Studies 36: 2274–2318
AFA, Georgia State University, University of Kansas, Lehigh University, Peking HSBC business school, Northeastern University
Heterogeneous Turnover-Performance Relations, 2021, with Lin Tong and Tong Yao, Journal of Banking & Finance 124
CBE Annual Faculty Research Retreat (Lehigh University)
Working Papers
Which Bond Investors Drives Conditional Conservatism? Evidence from Bond Ownership Structure, with John L. Campbell, Hye Seung (Grace) Lee, and Jesus M. Salas
AAA, FARS Midyear Meeting, Korean American Accounting Professors Association Meeting
Responsible Asset Managers, with Sterling Yan, Shuran Zhang, and Haibei Zhao
FMA, Fudan International School of Finance, Hong Kong Polytechnic University, Lehigh University, Renmin University of China, University of Queensland, and University of Sydney
Information Intensity and Mutual Fund Performance, with George Jiang, Russ Wermers, and Tong Yao
AFA, MFA, FMA, CICF, Philly Five Research Conference, IMS Magnolia Finance Conference, University of Iowa, University of Miami, Singapore Management University, Hong Kong Polytechnic University, Fudan University, Nanjing University, Iowa State University, Nanyang Technology University, University of Stockholm, Lund University, University of Gothenburg, McGill University, Tongji University, Shanghai Jiaotong University, Aalto University
On the Role of Trading vs. Holdings in the Performance Persistence of Institutional Investors: The Value of Regular Trading, with Jeffrey A. Busse, Lin Tong and Joe Zhang
Playing Favoritism? A Closer Look at IPO Allocations to Investment Bank-Affiliated Mutual Funds
Eastern Finance Association Annual Conference